See all 11 photos
11 photos
$2,300,000
$2,500,000 8.0%
Est. payment /mo
20 Beds
19 Baths
11,329 SqFt
UPDATED:
Key Details
Sold Price $2,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 11,329 sqft
Price per Sqft $203
MLS Listing ID 24421279
Sold Date 10/25/24
Bedrooms 20
HOA Y/N No
Year Built 1965
Lot Size 0.251 Acres
Property Description
Listed for sale for the first time in 45 years, the property offers a new investor an excellent opportunity to add value by recapturing the approximately 49% rent upside. The current owner has already completed all seismic retrofit repairs, benefitting a new investor by bringing the property into compliance and saving them from an otherwise costly capital expense. Situated near the intersection of Fletcher Drive and San Fernando Road, the building allows tenants convenient access to nearby Los Feliz, Glendale, Mount Washington, and Highland Park. The high-end Americana at Brand shopping center and the recent revitalized Glendale Galleria are both within two miles, as are Griffith Park and Occidental College. The multi-million dollar North Atwater East Bank Riverway Project, which would provide a 2.2-mile pathway and connect to the Los Angeles River bike path, is just west of the property.
Location
State CA
County Los Angeles
Area 623 - Glassel Park
Zoning LARD2
Interior
Fireplace No
Exterior
Garage Assigned
Parking Type Assigned
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5458016016
Special Listing Condition Standard
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Listed by Roderick 'Rick' Raymundo • Marcus & Millichap
Bought with Erick Uribe • South Park Group, Inc.
Bought with Erick Uribe • South Park Group, Inc.
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Crystal Trammell
REALTOR® | Mortgage Broker | License ID: 02147605
REALTOR® | Mortgage Broker License ID: 02147605